Working to help small businesses grow, the CAN DO economic development corporation recently assisted a Hazle Township plumbing, heating and air conditioning contractor to secure low-interest loans for purchasing an industrial building to house its operations.

Hydrodynamics was founded in 1994 as a home-based plumbing contractor and operated in Weston, outside Hazle Township, for several years before moving into a garage in Hazleton where it was housed until its recent move into a 5,500 square-foot building in the Milnesville section of Hazle Township.

When founder David Popiak needed help securing funding for the purchase of the new building, he turned to the CAN DO finance department, which assisted him in securing a $56,250 low-interest loan from the Pennsylvania Department of Community and Economic Development. CAN DO then teamed up with the Northeastern Pennsylvania Alliance (NEPA Alliance) to secure an additional $56,250 in low-interest funding through the Economic Development Administration.

Hydrodynamics currently employs four people and Popiak said he plans on hiring another three employees over the next three years as the company grows.

“Small business financing like the programs CAN DO was able to secure for us enabled me to expand our business and will make it possible for us to slowly increase our workforce. Both CAN DO and the NEPA Alliance’s assistance was critical in this stage of our growth,” said Popiak.

CAN DO Director of Economic Development & Entrepreneurship James Kelshaw said, “While assessing Hydrodynamics’ needs, we saw the need for additional funding to supplement the DCED loan we were able to secure, so we referred the company to the NEPA Alliance in Pittston. CAN DO often works with other agencies to help small businesses acquire the funds they need to expand their operations and thereby expand their workforce. This creates success for business and also helps to create new jobs.”

The loan through DCED carries a 1.75 percent interest rate. The loan through EDA has a 2.75 percent interest rate.

NEPA Alliance is a regional community and economic development agency, serving the seven counties of northeastern Pennsylvania including Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill and Wayne. NEPA Alliance services include 11 business financing programs, government contracting assistance, international trade assistance, nonprofit assistance, transportation planning, research and information and local government services. “We are pleased to partner with CAN DO to provide the finances small businesses need to expand their operations,” said NEPA Alliance Chief Executive Officer Jeffrey Box. “The funding NEPA provided was from the Economic Development Administration’s Tri-District Loan Fund,” said Box.

CAN DO President Kevin O’Donnell said, “CAN DO’s financing department is committed to assisting small businesses throughout the region with securing funds to grow their businesses. We are committed to attracting large industries to our industrial parks, as well as helping entrepreneurs and established business owners who need help to grow.”